The European summer holiday period had also caused difficulties in accessing a public notary, he said, that further delayed filing the documents and exposed him to contempt of court charges. “I am three hours drive from the next large city that has a public notary,” Mr Papas said.

Meanwhile, Mr Papas’ business partner, Vincenzo Tesoriero, who was filmed spectacularly crashing out of an amateur car race, confirmed in his affidavit he owned a series of high-end luxury vehicles including a new BMW, Porsche Cayenne, and a 1957 Chevrolet Bel Air as well as a Ducati bike, Alfa Romeo and Mini Cooper.

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Mr Tesoriero’s lawyers have previously said he resigned from most Forum entities earlier this year but his affidavit reveals he is owed $10 million from Forum Group, the employing entity of the group. Mr Tesoriero also confirmed he owns or was beneficiary of a trust that owns property that is together worth in excess of $60 million.

Mr Papas’ lawyers originally sought to have his affidavits banned from publication but later withdrew this application. The documents detail the first public statements made by Mr Papas since he went to ground following Westpac’s initial inquiries in mid-June about loans they suspected were fraudulent.

Westpac has launched an internal probe to examine its invoice verification processes and own staff to determine how the country’s oldest bank has been embroiled in what has been described as the country’s largest banking fraud.

Liquidators have been appointed to split up and sell off the many companies in Mr Papas’ business empire, that range from equipment leasing to waste management.

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